Benefit Analysis from Mojix Discusses ROI of Fixed RFID Solution
In the 1980s automatic identification and data capture (AIDC) was the future of retail; enabled by barcodes and readers it sped up inventory tracking and checkout, pleasing customers and retailers alike.
In the early 2000s item level tagging in retail stores played much the same role, enabled by RFID tags and hand-held readers. It created efficiency throughout the supply chain and enhanced the customer experience. Retailers who ignored these technologies were left behind.
With the emergence of the Internet came online shopping that was supposed to spell the end of brick-and-mortar stores. However, it soon became clear that retail had space for both forms of shopping, and omni-channel was born to bridge the divide between the two.
Hand-Held RFID Readers Alone Are Not Enough
In order to achieve true omni-channel retailing, retailers needed to move beyond hand-held readers to provide instant inventory visibility – only possible through a fixed RFID solution, such as wide-area RFID by Mojix. Fixed RFID solutions give complete, item level, real-time supply chain visibility, allowing retailers to cater to the demand for more options by the modern consumer.
Omni-channel uses online and retail stores, as well as mobile apps, in-store kiosks and a variety of other channels to create choice for the consumer. All enabled by supply chain visibility to allow a system that is both cost effective and responsive to customer needs – saving on costs and maximizing profits.
Omni-channel shoppers spend between 50-300% more than single channel shoppers, according to International Council of Shopping Centres. The ICSC also state that 63% of shoppers use multiple channels when making orders over $100. While a Worldpay report states that, “consumers think of shopping as one experience, whether online, in-store or on a mobile device, and so must businesses.”
Today, omni-channel represents the future of retail but, as with barcodes and hand-held RFID readers, you need the right technology to get you there.
This Benefit Analysis by Mojix goes into detail about real-time, always-on RFID and how it delivers a competitive advantage for retailers. Download Now.